The reserves specifically allocated to the participation loans
7 million residual balance on the mixed-use real estate development participation loan
that was previously classified as nonperforming.
With C-PaL, Navy Federal said it would not take the lead in the participation loan
deals, choosing to appreciate and respect the fact that other credit unions may want to maintain current relationships and run the daily interactions with members.
The first year of a participation loan
with an origination fee of 1%, interest income of 6% on the portion of the loan that wasn't participated out, and the servicing fee of participation at 50 basis points.
The increase in the provision for loan losses is a result of further impairment of a commercial land acquisition and development participation loan
Some Examples: Lenders can make a participation loan
or they can make what we call a "Piggyback" loan.
Excluding the past due participation loan
, the Company's nonperforming assets would have amounted to $1.
Purchasing credit unions also required to document agreements with originators and develop participation loan
In addition to the provision for loan loss reserves discussed above, the net loss also resulted from the acceleration of depreciation on the leasehold improvements of the Edgewood branch in connection with closing the branch and the impact of our placement of a non-performing commercial land acquisition and development participation loan
on non-accrual status.
Under the leadership Deborah Wright, the NYC Department of Housing Preservation and Development is effectively harnessing the entrepreneurial effectiveness of the private sector through the Vacant Building Program and the Participation Loan
Subsequent to the announcement of the first quarter 2008 financial results, the Company identified the impairment of a participation loan
, with an outstanding loan balance of $2.
This is a participation loan
, and the outstanding principal balance of the Bank's participation interest in this loan is $1,359,000.